Hope for Gulf Keystone Petroleum shares?
A 13-month rally ended at the beginning of April and there's currently no sign of a rebound. Independent analyst Alistair Strang consults his charts for signs of movement.
22nd May 2025 07:51
by Alistair Strang from Trends and Targets
Gulf Keystone Petroleum Ltd (LSE:GKP)'s story has looked pretty chaotic since their share price experienced a 100/1 split in 2016, designed to make the market believe the price was now respectable. It clearly has not worked, thanks to nothing effectively happening for the last nine years.
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Until the end of March, it was starting to look like GKP was perhaps about to do something useful but suddenly, almost as if the market noticed the potentials, the share price was reversed by 25% to firmly place it back in its box.
It is certainly now the case the share prices needs to close above 200p (blue) before we can accept the potential of a climb to an initial 276p with our secondary, if bettered, working out at a longer-term game changing 340p, a price level which should take the share into position for future optimism.
We fear the share is about to experience further misery as below just 148p has the potential of triggering reversal down to an initial 124p with our secondary, if broken, down at 95p and a probable bottom, visually giving an ideal point from which to hope for a bounce. To escape this expectation, the share price needs to close a session above 200p, an event which will utterly foul our reversal expectations.
Source: Trends and Targets. Past performance is not a guide to future performance.
Alistair Strang has led high-profile and "top secret" software projects since the late 1970s and won the original John Logie Baird Award for inventors and innovators. After the financial crash, he wanted to know "how it worked" with a view to mimicking existing trading formulas and predicting what was coming next. His results speak for themselves as he continually refines the methodology.
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